RBI has decided to do away with the unlimited usage of third party ATM for withdrawal from saving account. RBI had earlier given a circular to all banks allowing unlimited withdrawal from any ATM from across India. This was effective from April this year.
Third party ATM charge the bank with Rs 20 per transaction. This made the banks appeal to RBI for change in the usage of third party ATM's. It was seen than more often the consumer used other bank ATM's even for small withdrawals like a few hundred ruppees.
From October onwards there will be a maximum limit of 5 withdrawals from third party ATM's in a month. There is also a maximum limit of Rs 10,000 per transaction.
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